Post Utme Crawford University 2021 Economics Question 16

Practice objective / multiple choice question 16 from the 2021 Post Utme Crawford University Economics examination.

Post Utme Crawford University 2021 Economics Objective / Multiple Choice
Question 16 POST_UTME_CRAWFORD_UNIVERSITY • 2021 • ECONOMICS • objective

Consider a firm operating in a perfectly competitive market with a production function Q = 2L^\( 1/2 \)H^\( 1/2 \), where L is labor and H is capital. If the firm's current input levels are L = 4 and H = 9, calculate the marginal product of labor (MPL) and the marginal product of capital (MPK).

Answer Options

Correct Answer A. MPL = 1/2L^\( -1/2 \)H^\( 1/2 \) = 0.3536, MPK = L^\( 1/2 \)/\( 2H^\( -1/2 \ \)) = 0.3536
B. MPL = 1/2L^\( -1/2 \)H^\( 1/2 \) = 0.3536, MPK = L^\( 1/2 \)/\( 2H^\( -1/2 \ \)) = 0.1768
C. MPL = 1/2L^\( -1/2 \)H^\( 1/2 \) = 0.1768, MPK = L^\( 1/2 \)/\( 2H^\( -1/2 \ \)) = 0.3536
D. MPL = 1/2L^\( -1/2 \)H^\( 1/2 \) = 0.1768, MPK = L^\( 1/2 \)/\( 2H^\( -1/2 \ \)) = 0.1768
Correct Answer
A
Correct Option:
MPL = 1/2L^\( -1/2 \)H^\( 1/2 \) = 0.3536, MPK = L^\( 1/2 \)/\( 2H^\( -1/2 \ \)) = 0.3536

About This Question

This is Post Utme Crawford University 2021 Economics Question 16. It is one of the objective questions from the 2021 Post Utme Crawford University Economics examination.

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